Asia and North America will give European-based electric vehicle infrastructure producers a run for their money over the next five years, according to SBI Energy’s latest market research study, Electric Vehicle Infrastructure Manufacturing.
Due mainly to their alliance with Renault-Nissan, China’s Ministry of Industry and Information Technology (MITI) program will help set up battery recharging networks throughout the city of Wuhan, and thus contribute a big portion to the 24% global EV infrastructure manufacturing market share Asia is expected to capture by 2014.
Meanwhile, the North American market will grow from $9 billion in 2009 to $20 billion in 2014, fueled by government incentive programs and the movement toward eco-friendly consumer lifestyles. North America will hold 20% of the EV infrastructure manufacturing market by 2014, the report projects.
SBI Energy expects that Europe will maintain its stronghold on the electric vehicle infrastructure manufacturing industry through 2014, but its global share will slip to 56% as North America and Asia gain ground.
"North American producers will capitalize on the return to economic normalcy through 2014 and rely heavily in government supported funding of electric vehicles infrastructure development," says Shelley Carr, publisher of SBI Energy. "Manufacturers can take advantage of government incentives for electric vehicle production, and secure strategic partnerships with suppliers for long-term growth potential."
Electric Vehicle (EV) Infrastructure Manufacturing examines the global EV market with forecasts through 2014 and provides detailed information on the smart grid market, rechargeable batteries, EV ownership and stimulus funds for infrastructure development. Company profiles feature manufacturers competing in the industry, trends and activities worldwide.